Sprinto Closes $20 Million in Series B

by Kay Aloha Villamor in April 16th, 2024

Sprinto, a Bangalore, India-based security compliance and risk platform, has closed a $20 million Series B funding round, bringing its total capital raised to $31.8 million. 


The round was led by Accel, with participation from existing investors Elevation Capital and Blume Ventures. 

Founded in 1983, Accel is a seed and growth-stage venture capital firm that supports a global community of entrepreneurs. It prefers to invest in early-stage companies operating in the cloud, software as a service (SaaS), consumer, enterprise, information technology, healthcare, fintech, security, media, and business products & services sectors. The firm has additional offices in San Francisco, London, and Bangalore. 

Sprinto Use of Funds 

The funding will be used to further automate compliance management processes and expand their customer base beyond tech-first companies. It also plans to utilize the fresh funding for product R&D and to cater to new businesses. 

About Sprinto 

Founded by Girish Redekar and Raghuveer Kancherla, Sprinto is a company that focuses on automating entire compliance management processes. Its platform automates various aspects of security compliance management, including vendor risk management, vulnerability assessment, access control, and evidence collection. With over 160 integrations and support for popular frameworks like SOC 2, GDPR, HIPAA, and others, Sprinto uses a mix of AI, GPTs, and its own internal large language model to offer efficiencies in compliance management. The company has 200 employees and over 1,000 customers across 75 countries. 

Funding Details 

Company: Sprinto, Inc. 

Raised: $20.0M 

Round: Series B 

Funding Month: April 2024 

Lead Investors: Accel 

Additional Investors: Elevation Capital, Blume Ventures 

Company Website: https://sprinto.com/ 

Software Category: Security Compliance and Risk 

Source: https://techcrunch.com/2024/04/09/sprinto-funding-security-compliance-management/

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